In Episode 79, Matt welcomes two long-time friends and industry experts: Lisa Crafford and Morgan Bell of Constellation Wealth Capital (“CWC”). CWC is a Chicago-based private equity firm founded in 2023 that specializes in making minority investments in growth-oriented wealth management firms across the United States. Lisa and Morgan first met at BNY Mellon Pershing, while consulting for RIAs. Today, Lisa serves as Managing Director, Head of Advisory, and Morgan leads technology consulting at CWC. Matt has long considered both Morgan and Lisa fellow “operations nerds,” and has enjoyed collaborating with them on content aimed at helping operations professionals run better firms. After sharing their career stories, the conversation dives into:

The evolution of the COO role as the wealth management industry matures
The need for leadership and next generation training in the industry, and how Lisa and Morgan addressed these needs – both historically and now at CWC
Solving the complex puzzle of building a scalable, efficient, and integrated tech stack
Where the COO is headed in the next five years
Common mistakes firms make, and how to avoid them at your RIA
Advice for first-time COOs and for RIAs hiring their first COO
And, of course, a short tribute to Mark Tibergien’s immense impact on our industry

The article, “The Importance of Strategy and How a COO Can Help” can be found here.

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